TIAA CREF Investment Management LLC cut its stake in shares of Covanta Holding Corporation (NYSE:CVA) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 387,968 shares of the energy company’s stock after selling 9,578 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.30% of Covanta Holding Corporation worth $5,121,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Covanta Holding Corporation by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 9,452,767 shares of the energy company’s stock worth $148,408,000 after purchasing an additional 395,551 shares during the period. BlackRock Inc. grew its stake in shares of Covanta Holding Corporation by 17,486.2% during the 1st quarter. BlackRock Inc. now owns 5,904,931 shares of the energy company’s stock worth $92,706,000 after purchasing an additional 5,871,354 shares during the period. Neuberger Berman Group LLC grew its stake in Covanta Holding Corporation by 11.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,817,457 shares of the energy company’s stock valued at $76,790,000 after acquiring an additional 616,425 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in Covanta Holding Corporation by 41.7% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,179,991 shares of the energy company’s stock valued at $41,976,000 after acquiring an additional 936,309 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Covanta Holding Corporation by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,248,100 shares of the energy company’s stock valued at $29,675,000 after acquiring an additional 78,047 shares during the last quarter. 96.55% of the stock is currently owned by institutional investors and hedge funds.
CVA has been the topic of a number of research reports. BMO Capital Markets assumed coverage on shares of Covanta Holding Corporation in a research note on Thursday, June 29th. They issued a “market perform” rating and a $16.00 price objective on the stock. Barclays PLC raised shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Covanta Holding Corporation in a report on Monday, July 17th. BidaskClub lowered shares of Covanta Holding Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Stifel Nicolaus upgraded shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $15.50 to $17.00 in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $17.06.
Shares of Covanta Holding Corporation (NYSE CVA) opened at 15.25 on Friday. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $16.50. The firm has a 50-day moving average of $14.87 and a 200 day moving average of $14.37. The firm’s market cap is $1.98 billion.
Covanta Holding Corporation (NYSE:CVA) last announced its quarterly earnings data on Thursday, October 26th. The energy company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The firm had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $421.87 million. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, equities research analysts anticipate that Covanta Holding Corporation will post ($0.25) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Thursday, September 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $1.00 annualized dividend and a yield of 6.56%. Covanta Holding Corporation’s dividend payout ratio is presently -526.29%.
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Covanta Holding Corporation Company Profile
Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.
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